Last week, CFA Association Russia launched a new ethics exam for students and young finance professionals. It was the first time professional ethics were brought to the forefront of students' education in Russia.

The quiz was comprised of 20 questions from the Ethics and Code of Professional Conduct part of the CFA Institute Investment Foundations Certificate.

The CFA Institute Investment Foundations Certificate, formerly known as Claritas, is a new program developed by CFA Institute that covers the essentials of finance, ethics, and investment roles, providing a clear understanding of the global investment industry.

Although more than 200 participants took the test three dozen of them successfully passed it and received the certificates of completion. This goes to show that the ethics course isn't as easy as some may think.

For Russian students, an ethics course may be a new thing, but it's crucial for the young generation of professionals to learn the moral principles of the financial industry. CFA Russia believes that a greater emphasis on ethical awareness and ability to identify moral and ethical concepts will improve the overall functioning of the Russian economy in the future.

The ethics quiz itself was held during a career fair, geared toward students and recent grads, seeking employment in the finance industry. The event, ProFinance, was organized by the Russian employment agency Future Today and was specifically designed to target the problem of youth unemployment and under-employment.

Approximately 1,000 students from Moscow's leading universities attended the career fair, which beside CFA Russia invited 10 largest financial companies, including EY, PwC, Moscow Exchange, KPMG, and the Central Bank of Russia, among others.